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Adams Corp is a US corporation with operations in Country X. Adams uses the US dollar as the functional currency for its operations in Country
Adams Corp is a US corporation with operations in Country X. Adams uses the US dollar as the functional currency for its operations in Country X. The following foreign currency balances and exchange rates were in effect at December 31, 2019. Fixed Assets FC 400,000 Inventory (at Cost) FC 300,000 Marketable Securities (fair value) FC 500,000 Accounts Payable (due in 3 months) FC 800,000 Retained Earnings FC 200,000 Spot rate December 31, 2018 .4 US = 1 FC Spot rate December 31, 2019 .9 US = 1 FC 3 month Forward Rate March 31, 2020 .5 US = 1 FC Average Rate (2019): .6 US = 1 FC 3 month Option Rate: .8 US = 1 FC Historical Rate: .3 US = 1 FC Composite Rate: .7 US = 1 FC What is the US dollar equivalent of the sum of Marketable Securities, Inventory, Accounts Receivable, Fixed Assets and Retained Earnings at December 31, 2019. Show your calculations above. Answer $
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